There are 500 members in an organisation. Each member is liable to pay ₹100 p.a as subscription. Subscription received during the year 2021-2022 was ₹45000. Outstanding subscription for the year 2020-2021 was ₹10000. How much amount should be credited in Income & Expenditure Account for the year 2021-2022?

₹50000

Subscription per member is ₹100 p.a.
Total members are 500
So, subscription credited to income & expenditure A/c
= 500 x 100 = ₹50000.